DEBT-

Bank of China’s Dubai branch listed its USD 500 mn three-year floating-rate bond on Nasdaq Dubai, it said in a press release (pdf). The fresh paper, maturing in November 2028, was priced at the tightest spread achieved by any Chinese bank on a three-year USD bond, lifting the lender’s total outstanding listings on the exchange to about USD 1.9 bn and adding to the c. USD 145 bn now listed in debt securities on Nasdaq Dubai. The bonds were issued under its USD 40 bn medium-term note program.

Chinese issuers have raised more than USD 27 bn on Nasdaq Dubai to date, including debt from Bank of China, China Development Bank, ICBC, and China’s Ministry of Finance — reinforcing the Emirate’s role as a key listing venue for Asian borrowers tapping international fixed-income markets.

M&A-

Investcorp acquires US-based Guardian Fire Services: Abu Dhabi-based private equity firm Investcorp Capital acquired US fire and life safety services provider Guardian Fire Services, according to an ADX disclosure (pdf). While the transaction size wasn’t disclosed, the takeover brings Investcorp’s total investment activity over the past six months to USD 1.1 bn.

It’s been a busy run for Investcorp: Last week, the firm acquired a 2.6 mn sq ft portfolio of industrial assets across coastal markets in the US for roughly USD 400 mn. The takeover came on the heels of another US acquisition, this time of US industrial services firm Kanawha Scales & Systems last month. Other recent US exits include Resa Power in April and a USD 360 mn industrial portfolio sale. On the flip side, it invested in Italian payments firm Epipoli and acquired a USD 200 mn portfolio of European and North American assets.

REAL ESTATE-

Arada acquires urban regeneration site in South London: Sharjah-based real estate developer Arada acquired a prime regeneration site in the South London borough of Southwark, according to a press release. The group is seeking approval to develop the two vacant buildings into a hotel and its first co-living building in the capital. Its subsidiary, Arada London, will head up the project. The transaction value wasn’t disclosed.

The takeover marks Arada’s third major acquisition in the UK residential market. It acquired two plots earlier this year and is developing them into affordable housing and student accommodation units.

ICYMI- Arada entered the UK scene by acquiring a 75% stake in British developer Regal, now Arada London, in September. Later in November, it secured an 80% stake in London’s AED 12.3 bn Thameside West development.

CRYPTO-

Ruya launches shariah-compliant BTC investments: Homegrown digital Islamic community bank Ruya is now offering BTC investments and trading to customers directly through its mobile app, according to a press release. Working with Fuze, a licensed digital assets infrastructure provider, the bank will enable customers to buy and sell BTC in keeping with Islamic financial principles, as the bank looks to expand its shariah-compliant investment offerings.

Under the service, customers will gain access to competitive fees for digital asset trading as well as resources for informed investing, including in-app guidance, webinars, and customer service.

FINANCE-

#1- Fintech group Rostro Group secures SCA license: Global fintech and financial services group Rostro Group secured a Category 5 license from the UAE Securities and Commodities Authority (SCA), according to a press release.

Rostro Group? Founded in 2021, the group offers financial services to diversified trading and investment clients, and currently offers access to over 60 regional contract for difference equities. The firm is also authorized in Cyprus, Kenya, South Africa, the Seychelles, Mauritius, and Belize. The group’s CEO Michael Ayres (LinkedIn) is based in Dubai.

#2- Global online broker Pepperstone also obtained a Category 5 license from the SCA, expanding into the UAE with a new Dubai office, according to a press release. The broker is regulated in the UK, Australia, Cyprus, Kenya, the Bahamas, and Germany.

The plan: The online broker will be regulated by the Dubai Financial Services Authority and authorized to conduct arrangement and advice activities, as well as regulated marketing services for clients. The new office will serve as an institutional base for the wider MENA region, as it looks to roll out relationship management, education resources, and commercial support to regional partners and traders.

TECH-

BigBear.ai enters UAE market with Abu Dhabi office: US-based, AI-driven defense services provider BigBear.ai is opening a new office at the World Trade Center in Abu Dhabi, according to a press release. The office is its first in the Middle East as it eyes long-term investments in the region.

Not its first regional move: In June, the firm partnered with IHC’s mobility solutions subsidiary EasyLease and UAE-based firm Vigilix to develop AI-driven solutions for mobility, asset management, logistics, and smart infrastructure. More recently, it teamed up with EasyLease again, with the two looking to use AI to boost Malaysia’s infrastructure, security, and logistics sectors.

AVIATION-

UAE + Iran expand air connectivity: Sharjah Airport Authority gave Iran’s Caspian Airlines approval to launch passenger flights between the emirate and five Iranian cities, with the decision effective since yesterday, according to a press release. The airline will roll out seven weekly flights from Tehran, three weekly flights from Lamerd, two from Qeshm, one from Shiraz, and one from Bandar Abbas.

Tags: